HAPPY MONDAY TO THE STREET
In the foldable phone race, the tortoise beat the hares.
Apple (AAPL) and Samsung have hit hurdles in their sprint toward launching wide foldable phone. Meanwhile, employee-owned Chinese firm Huawei is just chilling at the finish line.
The Pura X Max launches in China next week in the same passport-wide form factor as the rumored iPhone Fold. The future of smartphones, apparently, does not require an invite from Cupertino.
🟩 | US stocks rose today on strong bulge-bracket earnings to kick off the Q2 earnings season and further optimism for an end to the Iran war.
📈 | One Notable Gainer: Oracle (ORCL) surged after touting its AI-driven utility savings platform at the Customer Edge Summit.
📉 | One Notable Decliner: Goldman Sachs (GS) fell despite record equities trading, after its fixed income, currencies, and commodities trading unit missed consensus estimates.
— Brooks & Cas
MARKET SNAPSHOT
S&P 500 Heatmap. Credit: Unusual Whales
WHEN WILL TRAFFIC AT THE STRAIT OF HORMUZ RETURN TO NORMAL?
The US Navy is now blockading the Strait of Hormuz, after peace talks with Iran collapsed over the weekend. Oil is back above $100 a barrel, and Iran has promised even higher prices ahead. Prediction markets are pricing the answer to the only question on every trader's mind: when does the traffic start moving again?
Market Movers
ALLOGENE, CONAGRA, REOVLUTION
📈 | Allogene Therapeutics (ALLO) jumped nearly 20% on positive phase 2 CAR T data in lymphoma patients.
📉 | Conagra (CAG) fell after naming John Brase as its new CEO, effective June 1.
📈 | Revolution Medicines (RVMD) surged more than 40% after its pancreatic cancer drug succeeded in a phase 3 trial.
📉 | Fastenal (FAST) slid after Q1 results merely met Street expectations.
📈 | Leggett & Platt (LEG) agreed to be acquired by Somnigroup International in a $2.5B all-stock deal.
Tomorrow's Trade Idea, Today
BILI-ON DOLLAR IDEA
Stock Spotlight
Sidelined No More
Morgan Stanley is bullish-bullish on Bilibili.
The bank upgraded the Chinese video-sharing and gaming platform to Overweight, with analyst Yang Liu pointing to game pipeline clarity, AI tailwinds, and an attractive valuation after a recent pullback.
The stock has edged lower year-to-date.
Vibe Code, BILI
The core thesis rests on three new games expected to drive a meaningful revenue inflection in the second half of 2026. Morgan Stanley believes those titles are not fully priced in by the Street.
AI may also be a tailwind, on multiple fronts.
Bilibili has cut programming costs through "vibe coding”. Creators use the technology to produce content faster. And better AI-driven curation is lifting both user numbers and time spent on the platform.
The Street BILI-ves
The broader analyst community largely agrees. Of 31 analysts covering the stock, 29 rate it a Buy or Strong Buy, with the consensus average price target roughly in line with Morgan Stanley’s view.
In short, the bulls believe in BILI.
Do you own any shares of Bilibili (BILI)?
OVERHEARD ON THE STREET
📈 | BlackRock (BLK) raised its US equity outlook to Overweight, citing strong corporate earnings expectations and limited economic fallout from the Iran war.
Kalshi Odds: “GDP growth in 2026?”
1.1 to 1.5: 10.9%
1.6 to 2.0: 23.2%
2.1 to 2.5: 27.9%
2.6 to 3.0: 13%
3.1 to 3.5: 3.5%
🛢️ | OPEC data showed overall cartel production plunged 27% month-over-month in March, with Iraq's output collapsing 61%.
🏠 | Existing home sales fell 3.6% in March to their lowest level since June 2025, as higher mortgage rates and economic uncertainty held buyers back.
💸 | A CNBC CFO Council survey found that 0 of 25 executives polled plan to pass potential tariff refunds on to consumers.
🚀 | NASA's Artemis II mission completed the deepest human spaceflight since the 1970s, but some current and former agency officials doubt a 2028 moon landing is achievable.
FRIDAY’S POLL RESULTS
Do you own any shares of Elbit Systems (ESLT)?
▇▇▇▇▇▇ 🐂 Yup, I’m holding
▇▇▇▇▇▇ 🐻 Nope, not interested
▇▇▇▇▇▇ 👀 No, but I’m interested
And, in response, you said:
👀 No, but I’m interested — “Refilling armories sounds like an expansion business, things being what they are.”
